IQM Quantum Goes Public on Nasdaq in European First

Jan de Vries · 2026-07-03

IQM Quantum Computers, a quantum computing company based in Espoo, Finland, has gone public on both the Nasdaq in the United States and the Helsinki Stock Exchange in Finland. This dual listing marks a major milestone as the first European quantum technology company to achieve this feat. The company raised $146 million in PIPE (Private Investment in Public Equity) financing, with participation from Finnish investment firm Tesi, along with pension funds Ilmarinen, Elo, and Varma. ### A New Era for Quantum Computing "Quantum computing is reaching an inflection point," said Jan Goetz, CEO and co-founder of IQM. "Organizations are moving from exploration to implementation, investing in quantum infrastructure and building the capabilities that will define the next generation of computing." IQM enters the public markets with leading technology and a clear strategy for scaling commercial adoption. Founded in 2018 as a spinout from Aalto University, IQM specializes in superconducting quantum computers. The company delivers full-stack quantum systems and cloud platform access to enterprises, research institutions, and national laboratories. With over 400 employees across Europe, Asia, and North America, and major operations in Munich, IQM is expanding its global footprint. ### Financial Strength and Growth Following the transaction, IQM holds a pro forma cash position of $387 million (converted from EUR 337 million). The company has raised a total of $545 million in growth financing since its inception. Tesi, which has been an investor since 2019, retains an ownership stake exceeding 9%. "Finland is emerging as a European powerhouse in building research-driven growth companies," said Tesi CEO Pia Santavirta. "We're proud that Europe's first listing of a quantum technology company is happening right here in Finland." ### Global Customer Adoption IQM has sold 23 quantum computers worldwide. Its Production Quantum model offers full-stack, open-architecture systems that customers can own, operate, and build upon. The on-premises deployment model provides direct ownership and control over quantum infrastructure, while cloud access is available through IQM's sovereign data center. Key customers and deployments include: - CINECA in Italy - Leibniz Supercomputing Center in Germany - Department of Energy's Oak Ridge National Laboratory in the United States - Toyo Corporation in Japan (first enterprise quantum computer purchase in Japan) - Galaxy in Poland (first private enterprise worldwide to buy an IQM quantum computer) ### US Expansion and Future Plans As part of its US expansion, IQM has opened its first Quantum Technology Center in Maryland. The company is positioning itself as a leader in the quantum computing space, with a focus on technological sovereignty and in-house infrastructure control. "Ambitious DeepTech companies like IQM are cornerstones of Finland's growth," said Juha Lehtola, Tesi's Director of Venture and Growth Investments. "Tesi has strongly supported IQM's path to listing and will continue as a growth owner." ### What This Means for the Industry IQM's public listing represents a significant vote of confidence in quantum technology. As governments and enterprises invest heavily in quantum capabilities, IQM is well-positioned to capitalize on this growing demand. The company's dual listing on both US and European exchanges provides access to a broader investor base and enhances its credibility in the global market. With a clear strategy and strong financial backing, IQM is poised to play a pivotal role in shaping the future of quantum computing.